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March 17, 2017

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Nanjing and Qingdao enact more housing curbs

AUTHORITIES in Nanjing and Qingdao yesterday unveiled more steps that will restrict housing purchases and cool the property market.

Nanjing said that from yesterday, people without a local hukou and anyone who owns at least one house in the three districts of Liuhe, Lishui and Gaochun will not qualify to buy a house. In the main urban districts, local people who have at least two houses will be banned from buying another home.

New home prices in Nanjing jumped 37.3 percent year on year in January, according to the National Bureau of Statistics.

Purchase restrictions have also been introduced in Qingdao. The city said that starting yesterday, people without local hukou must provide a record that they have paid 12 months worth of income tax and social security payments in the last two years if they want to buy a house in the urban area.


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